Bullseye Asset Management LLC Trims Stock Holdings in Tenable Holdings, Inc. (NASDAQ:TENB)

Bullseye Asset Management LLC lowered its holdings in shares of Tenable Holdings, Inc. (NASDAQ:TENB) by 29.7% in the third quarter, Holdings Channel.com reports. The fund owned 95,341 shares of the company’s stock after selling 40,321 shares during the quarter. Tenable comprises 1.8% of Bullseye Asset Management LLC’s portfolio, making the stock its 25th biggest holding. Bullseye Asset Management LLC’s holdings in Tenable were worth $3,863,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Readystate Asset Management LP bought a new stake in shares of Tenable during the third quarter worth $24,660,000. Mackenzie Financial Corp increased its stake in Tenable by 12.7% in the 2nd quarter. Mackenzie Financial Corp now owns 4,191,935 shares of the company’s stock worth $182,685,000 after buying an additional 471,126 shares during the period. FMR LLC increased its stake in Tenable by 2.0% in the 3rd quarter. FMR LLC now owns 15,210,927 shares of the company’s stock worth $616,347,000 after buying an additional 305,334 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Tenable by 28.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 920,378 shares of the company’s stock valued at $37,294,000 after buying an additional 201,366 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in Tenable in the 2nd quarter valued at about $7,740,000. Institutional investors own 89.06% of the company’s stock.

Tenable Trading Up 1.4 %

NASDAQ:TENB opened at $43.01 on Tuesday. The stock has a market capitalization of $5.17 billion, a price-to-earnings ratio of -84.33 and a beta of 0.83. Tenable Holdings, Inc. has a 52 week low of $35.25 and a 52 week high of $53.50. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.88. The firm has a 50 day moving average of $41.56 and a 200 day moving average of $41.59.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TENB. Morgan Stanley reaffirmed an “equal weight” rating and set a $47.00 price target (down previously from $50.00) on shares of Tenable in a research note on Monday, December 2nd. Robert W. Baird decreased their target price on Tenable from $53.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Needham & Company LLC reissued a “buy” rating and set a $50.00 price target on shares of Tenable in a research report on Tuesday, October 29th. Jefferies Financial Group initiated coverage on Tenable in a report on Wednesday, October 16th. They issued a “hold” rating and a $45.00 price objective for the company. Finally, Barclays dropped their target price on shares of Tenable from $49.00 to $45.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Six research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Tenable presently has a consensus rating of “Moderate Buy” and an average price target of $50.63.

Insider Transactions at Tenable

In other Tenable news, CEO Amit Yoran sold 4,828 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $40.72, for a total transaction of $196,596.16. Following the sale, the chief executive officer now owns 45,171 shares of the company’s stock, valued at approximately $1,839,363.12. The trade was a 9.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Stephen A. Vintz sold 2,801 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $40.72, for a total transaction of $114,056.72. Following the completion of the transaction, the chief financial officer now directly owns 281,536 shares of the company’s stock, valued at approximately $11,464,145.92. This represents a 0.99 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,654 shares of company stock valued at $862,879. Corporate insiders own 4.30% of the company’s stock.

About Tenable

Tenable Holdings, Inc provides cyber exposure solutions for in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and Japan. Its platforms include Tenable Vulnerability Management, a cloud-delivered software as a service that provides organizations with a risk-based view of traditional and modern attack surfaces; Tenable Cloud Security, a cloud-native cloud security solutions for security teams to continuously assess the security posture; Tenable Identity Exposure, a solution to secure Active Directory environments; Tenable Web App Scanning, which provides scanning for modern web applications; Tenable Lumin Exposure View, a measurement tool; Tenable Attack Surface Management, an external attack surface management solution; Tenable Security Center, an on-premises solution that provides a risk-based view of an organization’s IT, security and compliance posture; and Tenable OT Security, an operational technology security solution which provides threat detection, asset tracking, vulnerability management, and configuration control capabilities.